Economy Biden plans to fix Capital Gains Tax

[BIKES!]

The Democrat Reich that is smart enough to have a $2T (that means Trillion) “infrastructure” bill that only has 5% tied to infrastructure.

If anyone knows how to use tax dollars effectively it is the current Biden administration. Nobody has seen Kamala for a couple months while the border is in shambles and kids in cages...

 

[HeffDoesWant]

More taxing.. that will fix things because its been working so well already

A more efficient way of taxing is progress, no?

But I would point out alot of the problems with America are the over taxation of the upper middle class, this will help fix that.

 

[HeffDoesWant]

The Democrat Reich that is smart enough to have a $2T (that means Trillion) “infrastructure” bill that only has 5% tied to infrastructure.

If anyone knows how to use tax dollars effectively it is the current Biden administration. Nobody has seen Kamala for a couple months while the border is in shambles and kids in cages...

Your number (5%) seems way off, source?

 

[BIKES!]

Your number (5%) seems way off, source?

https://www.google.com/amp/s/www.ne...ructure-plan-goes-roads-bridges-1580783?amp=1

Like I said, a fraction goes to infrastructure while the bulk goes to shit like this:
There’s also $213 billion for affordable and sustainable housing, $400 billion for the “care economy” and $100 billion for workforce development.

 

[ShadowRun]

More taxing.. that will fix things because its been working so will

A more efficient way of taxing is progress, no?

But I would point out alot of the problems with America are the over taxation of the upper middle class, this will help fix that.

No it won't , because it doesn't stop.. spend more tax more.. Tax by the miles that people drive, tax by the GB your phones and internet uses... things to come.

 

[HeffDoesWant]

https://www.google.com/amp/s/www.newsweek.com/just-under-6-percent-bidens-infrastructure-plan-goes-roads-bridges-1580783?amp=1

Like I said, a fraction goes to infrastructure while the bulk goes to shit like this:
There’s also $213 billion for affordable and sustainable housing, $400 billion for the “care economy” and $100 billion for workforce development.

No no, you said 5% on infrastructure, not 6% on just one type of infrastructure.

Big difference.

 

[HeffDoesWant]

More taxing.. that will fix things because its been working so will

No it won't , because it doesn't stop.. spend more tax more.. Tax by the miles that people drive, tax by the GB your phones and internet uses... things to come.

The current arrangement whereby the absolute richest pay a lower tax rate has helped create the wealth disparity that any thinking person knows is a problem.

As to your other concerns, it seems the same arguments could equally be applied to any plan to act or plan not to act.

 

[ShadowRun]

The current arrangement whereby the absolute richest pay a lower tax rate has helped create the wealth disparity that any thinking person knows is a problem.

As to your other concerns, it seems the same arguments could equally be applied to any plan to act or plan not to act.

Is it the governments job to control the wealth disparity?

 

[genecop]

Biden couldn’t fix a ham samich..

 

[HeffDoesWant]

Is it the governments job to control the wealth disparity?

It's the government's job to fund its expenditure in a way that promotes the country's interests long term.

You can take the easy route and say all taxes should be abolished, but hard facts someone needs to foot the bill.

Please don't think my stance on this is based on a nebulous concept of fairness, it's pure economics.

 

[Ichibanner]

I'm sure whatever Biden (or his handlers) propose will be as awesome as any other Government conceived idea foisted upon the populace.

The "Cash for Clunkers" program comes to mind. We'll stimulate the economy, help the poor, and also help the environment by scrapping 680,000 used cars and offering incentives to buy new cars!

The used car market was f*cked. Small used car businesses shut down. The price of used vehicles skyrocketed, hurting the poor, and the gains in the economy were minimal and short term.

 

[carrythezero]

Sounds like another stupid idea in a series of stupid ideas. Capital gains income isn't guaranteed, because sometimes there are no gains, sometimes there are losses. Wage income is guaranteed, thus the distinction in taxes.

Huh? Sometimes there are no gains and sometimes losses, correct. That’s not taxed. The profit (gains, hence the name) is taxed. Should be taxed at least equal to income and especially for people making a million+ a year.

 

[carrythezero]

It's a great idea. Everyone who makes over a million will move their money out of the market or be forced to pay 40% tax plus their state tax which could put them over 50% on anything they make. They will move the money elsewhere, find a way to not pay as much taxes and will tank the market which comprises all of the middle classes retirement funds.

Even 50% seems like a steal for doing literally nothing. Where else they going to make that kind of bank so easy?

 

[HeffDoesWant]

I'm sure whatever Biden (or his handlers) propose will be as awesome as any other Government conceived idea foisted upon the populace.

The "Cash for Clunkers" program comes to mind. We'll stimulate the economy, help the poor, and also help the environment by scrapping 680,000 used cars and offering incentives to buy new cars!

The used car market was f*cked. Small used car businesses shut down. The price of used vehicles skyrocketed, hurting the poor, and the gains in the economy were minimal and short term.

I don't think your valid concerns about a different and in no way similar program affect the validity of this proposal.

 

[Pride23]

Even 50% seems like a steal for doing literally nothing. Where else they going to make that kind of bank so easy?

It's not easy or everyone would do it. You have to consider the risk profile completely changes. You are not guaranteed to make money and anything you do make you have to give up over half. They will find other asset classes or other countries to move there money too.

 

[andnowweknow]

What a retard Biden is

Trump got curbstomped by a retarded corpse.

 

[HeffDoesWant]

It's not easy or everyone would do it. You have to consider the risk profile completely changes. You are not guaranteed to make money and anything you do make you have to give up over half. They will find other asset classes or other countries to move there money too.

It by nature includes all asset classes and overseas gains. Those changes wouldn't do anything.

 

[carrythezero]

It's not easy or everyone would do it. You have to consider the risk profile completely changes. You are not guaranteed to make money and anything you do make you have to give up over half. They will find other asset classes or other countries to move there money too.

Nah, it’s borderline impossible to lose money in this market. You can make absurd amounts of money by doing literally nothing more than clicking a button. People work their ass off and only bring home 65%, so bringing home 50% for doing nothing seems like a bargain that no one should complain about.

 

[KeepingItReal]

Huh? Sometimes there are no gains and sometimes losses, correct. That’s not taxed. The profit (gains, hence the name) is taxed. Should be taxed at least equal to income and especially for people making a million+ a year.

Which part didn't make sense? Naturally income that isn't guaranteed should be taxed at a lower rate. It doesn't make sense tax income with more risks at the same rate.

 

[HeffDoesWant]

Nah, it’s borderline impossible to lose money in this market. You can make absurd amounts of money by doing literally nothing more than clicking a button. People work their ass off and only bring home 65%, so bringing home 50% for doing nothing seems like a bargain that no one should complain about.

You are risking invested capital but if the current appreciation of asset prices has shown people will not stop wanting passive income even if it's level has been reduced.